Quantum Private Wealth LLC Acquires 393 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Quantum Private Wealth LLC boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,791 shares of the specialty retailer’s stock after purchasing an additional 393 shares during the period. Quantum Private Wealth LLC’s holdings in Alibaba Group were worth $2,102,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Concord Wealth Partners grew its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the period. Decker Retirement Planning Inc. acquired a new stake in Alibaba Group in the 4th quarter valued at $31,000. Highline Wealth Partners LLC bought a new stake in Alibaba Group in the third quarter valued at $36,000. Assetmark Inc. raised its stake in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new position in shares of Alibaba Group during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho upped their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Robert W. Baird boosted their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup increased their price target on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Barclays cut their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.86.

Alibaba Group Price Performance

Shares of BABA stock opened at $124.73 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $126.80. The firm has a market cap of $296.71 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 0.42 and a beta of 0.31. The stock has a 50-day moving average price of $91.25 and a 200 day moving average price of $91.02.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. Alibaba Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.